Unlike Mandatory Arbitration,voluntary Arbitration Is __________

question 26

Multiple Choice

Unlike mandatory arbitration,voluntary arbitration is __________.

• A) based on parties' agreement after dispute arises or on contract clause before dispute arises
• B) unconstitutional in most states
• C) coercive because it provides an unfair advantage to the party creating the contract
• D) time consuming and expensive when compared to litigation
• E) impractical because agreements are too difficult to reach in early contract negotiations

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Definitions:

European Economic Community

A regional organization aimed at achieving economic integration among its member countries, precursor to the European Union.

Production Planning

Phase of production control that determines the amount of resources (including raw materials and other components) a firm needs in order to produce a certain output.

Resources Needed

Refers to the essential inputs or supplies required to operate a business, execute a project, or achieve an organizational goal.